Special Assessment for Rental Question

[mrschasez69]

I was charged a special assessment for my rental and forgot to add it to my taxes. It was 10k dollars. Would it be worth it to amend my taxes for?

[AnnetteB6 · Accepted solution]

It depends on whether your rental property has a profit or a loss as to whether it will affect your return if you amend.  However, if the assessment was done in 2023 and you intend to claim it, you do need to amend your return.  If your property has an overall passive loss that is being carried over, then the carryover amount will be affected by including the assessment amount.  You cannot wait until next year to include the assessment if it occurred in 2023.